DealsJun 3, 2026, 05:16 PM
High Wire Networks Sells $34K Series G Preferred Stock; Potential $70K More
AI Summary
High Wire Networks, Inc. entered into a Securities Purchase Agreement with GHS Investments, LLC. At the initial closing on June 1, 2026, the company sold 34 shares of Series G Preferred Stock for $34,000 and issued an additional 12 shares as an equity incentive, totaling 46 shares. The agreement allows for additional closings to sell up to 70 more shares for $70,000, with proceeds intended to fund regulatory filings. The Series G Preferred Stock accrues dividends at 12% per annum and is convertible into common stock, with a redemption clause at 135% of stated value upon an Event of Default.
Key Highlights
- Sold 34 shares of Series G Preferred Stock for $34,000 to GHS Investments, LLC.
- Issued an additional 12 shares of Series G Preferred Stock as an equity incentive.
- Total of 46 Series G Preferred Stock shares issued at initial closing on June 1, 2026.
- Each Preferred Stock has a stated value of $1,200 and is convertible to common stock.
- Company may sell up to 70 additional shares of Preferred Stock for $70,000.
- Preferred Stock accrues 12% annual dividends, payable quarterly in cash or shares.
- Proceeds from additional sales will fund 2025 10-K and subsequent 10-Q filings.
Price Impact
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